Volkswagen and unions are set for talks over management plans for plant closures and mass layoffs. The talks come as Europe’s biggest car manufacturer reported a profit slump due to high costs and growing competition.
Car giant Volkswagen and labor leaders were set for talks on Wednesday, as company bosses said they would table proposals to tackle high costs and growing competition.
The discussions come on the same day VW announced a 64% plunge in profits and amid concern about widespread job cuts.
well of theres’s more competition… be competitive. make better cars, reduce prices, make the product stand out.
During COVID they learned they can make the same profit by ditching mass market vehicles and concentrating on high margin SUVs and still preserve their profit margin. I guess this is now biting their asses.